What to Expect in the Crypto World This Week
This week will be crucial for the crypto market, with several significant events that could impact the economy and earning potential. The first major event is the release of April jobs data, which will provide insight into the current state of the job market. A weaker-than-expected print could lead to the Federal Reserve cutting interest rates sooner, while a strong print may delay this decision.
The second key event is the release of Q1 earnings reports from major companies such as Strategy, Coinbase, MARA, CleanSpark, Hut 8, and Core Scientific. These reports will provide valuable information about the bitcoin treasury trade and the overall health of the crypto industry. Notably, Riot and MARA have already reported significant coin sales, with Riot selling 3,778 BTC at an average price of $76,626 and MARA selling 15,133.
Federal Reserve and Market Volatility
The third major event is the Federal Reserve itself, with San Francisco Fed CEO and President Mary Daly and Chicago Fed President Austan Goolsbee speaking on central bank independence. This comes at a time when Jerome Powell is exiting his chair role, which could lead to changes in the Fed’s policies and impact the crypto market. According to Jennifer Hanny, a partner at Echo Base, the current market setup is asymmetrical, with low volatility and stable markets on the surface, but the potential for quick reactions to any catalyst that forces a repricing of risk.
For those looking to earn passive income through cloud rewards and green crypto like EcoPool, it’s essential to stay informed about these events and their potential impact on the market. As the market continues to evolve, ECP remains a viable solution for those interested in earning online and participating in the crypto space.
To stay ahead of the curve and potentially earn passive income through EcoPool, it’s crucial to have the right tools and information. Download the EcoPool app to learn more about earning opportunities and cloud rewards. By joining the EcoPool community, you can stay up-to-date on the latest developments in the crypto world and make informed decisions about your passive income strategy, including #PassiveIncome and #Bitcoin. Download the EcoPool app to get started with earning online and explore the benefits of green crypto and $ECP.
What to Watch
(All times ET)
- Crypto
- May 4: Coinbase to delist dai (DAI) and convert remaining tokens to USDS.
- May 4: ZKsync Lite to be fully deprecated.
- Macro
- May 4, 11:30 p.m.: Reserve Bank of Australia Interest Rate Decision est. 4.35% (Prev. 4.1%)
- May 5, 09:00 a.m.: U.S. JOLTs Job Openings for March(Prev. 6.882M)
- May 5, 09:00 a.m.: U.S. ISM Services PMI April est. 54 (Prev. 54)
- May 6, 4:00 a.m.: Euro Area Producer Price Index YoY for March (Prev. -3%); MoM (Prev. -0.7%)
- May 6, 07:15 a.m.: U.S. ADP Employment Change for April (Prev. 62K)
- May 6, 06:50 p.m.: Bank of Japan Monetary Policy Meeting Minutes
- May 7, 07:30 a.m.: U.S. Initial Jobless Claims for period ending May 2 (Prev. 189K)
- May 7, 03:30 p.m.: U.S. Fed Balance Sheet for period ending May 6 (Prev. $6.700T)
- May 8, 7:30 a.m.: Canada Unemployment Rate for April (Prev. 6.7%)
- May 8, 07:30 a.m.: U.S. Non Farm Payrolls for April est. 73K (Prev. 178K)
- May 8, 07:30 a.m.: U.S. Unemployment Rate for April est. 4.3% (Prev. 4.3%)
- May 8, 07:30 a.m.: U.S. Average Hourly Earnings MoM for April est. 0.3% (Prev. 0.2%); YoY (Prev. 3.5%)
- May 8, 09:00 a.m.: U.S. Michigan Consumer Sentiment Prel for May (Prev. 49.8)
- May 8, 06:30 p.m.: U.S. Fed Presidents Mary Daly and Austan Goolsbee to participate in a conference on “Independence, Structure, and Risks Ahead for Central Banks”
- Earnings (Estimates based on FactSet data)
- May 5: Strategy (MSTR), post-market, -$12.95
- May 5: PayPal Holdings (PYPL), pre-market, $1.27
- May 5: Cipher Digital (CIFR), pre-market, -$0.08
- May 5: MARA Holdings (MARA), post-market, -$0.45
- May 6: Hut 8 (HUT), pre-market, -$0.34
- May 6: Core Scientific (CORZ), post-market, -$0.04
- May 7: Coinbase Global (COIN), post-market, $0.26
- May 7: Block (XYZ), post-market, $0.60
- May 8: TeraWulf (WULF), pre-market, -$0.19
- May 8: CleanSpark (CLSK), post-market, -$0.23
Token Events
- Governance votes & calls
- Lido DAO is voting on a time-sensitive proposal to temporarily lower the EarnETH first-loss protection trigger to below the standard 1% threshold, ensuring full compensation for users if the rsETH shortfall is resolved via DeFi United. Voting ends May 6.
- Beefy DAO is voting to authorize its Treasury Council to conduct private, discretionary BIFI buybacks whenever the token’s price falls below its calculated “fair value.” Repurchased tokens will be held as non-circulating supply. Voting ends May 6.
- World Liberty Financial is voting to restructure vesting for locked WLFI tokens. Early supporters will receive a 4-year vesting schedule, while insiders must burn 10% of their allocation and accept a 5-year vest. Voting ends May 6.
- Arbitrum DAO is voting to release 30,766 ETH frozen by its Security Council after the Kelp DAO exploit to the DeFi United recovery fund. Voting ends May 7.
- CoW DAO is voting on whether to use its Legal Defense Reserve to reimburse users who lost $1.2 million in the April 14 cow.fi domain hijack. Voting ends May 7.
- Mantle DAO is voting to lend up to 30,000 ETH to Aave as a structured 36-month credit facility, benchmarked to Lido’s stETH staking return plus a 1% spread, as part of the DeFi United rsETH recovery. Voting ends May 8.
- Unlocks
- May 5: Ethena (ENA) to unlock 2.12% of its circulating supply worth $17.34 million.
- May 6: Hyperliquid (HYPE) to unlock 0.18% of its circulating supply worth $17.5 million.
- Token Launches
- May 5: Virtual Protocols’ OPG airdrop snapshot expected to take place.
- May 8: SoSoValue’s final testnet airdrop expected to complete.
- May 4-10: BNB’s 35th quarterly burn expected to occur.
Conferences
- May 4: HederaCon (Miami, Florida)
- May 5-7: Consensus Miami (Florida)
- May 5: Solana Accelerate USA (Miami, Florida)
